Section 700.5427 – Expansion or Limitation of Powers of Conservator.
700.5427 Expansion or limitation of powers of conservator. Sec. 5427. Subject to the restrictions in section 5407(3), at the time of appointment or later, the court may confer on a conservator, in addition to the powers conferred by sections 5423 to 5426, any power that the court itself could exercise under section 5407(2)(b) and (c). […]
Section 700.5428 – Preservation of Estate Plan; Right to Examine.
700.5428 Preservation of estate plan; right to examine. Sec. 5428. (1) When doing any of the following, the conservator and the court shall take into account the protected individual’s estate plan as known to them, including a will, a revocable trust of which the individual is settlor, and a contract, transfer, or joint ownership arrangement […]
Section 700.5429 – Claims Against Protected Individual; Enforcement.
700.5429 Claims against protected individual; enforcement. Sec. 5429. (1) A conservator may pay or secure from the estate a claim against the estate or against the protected individual arising before or during the conservatorship upon the presentation of the claim and allowance in accordance with the priorities in subsection (4). A claim may be presented […]
Section 700.5430 – Personal Liability of Conservator.
700.5430 Personal liability of conservator. Sec. 5430. (1) Unless otherwise provided in the contract, a conservator is not individually liable on a contract properly entered into in a fiduciary capacity in the course of estate administration unless the conservator fails to reveal the representative capacity and identify the estate in the contract. (2) A conservator […]
Section 700.5431 – Termination of Proceeding.
700.5431 Termination of proceeding. Sec. 5431. The protected individual, conservator, or another interested person may petition the court to terminate the conservatorship. A protected individual seeking termination is entitled to the same rights and procedures as in an original proceeding for a protective order. Upon determining, after notice and hearing, that the minority or disability […]
Section 700.5432 – Payment of Debt and Delivery of Property to Foreign Conservator Without Local Proceedings.
700.5432 Payment of debt and delivery of property to foreign conservator without local proceedings. Sec. 5432. (1) A person indebted to a protected individual or having possession of property or of an instrument evidencing a debt, stock, or chose in action belonging to a protected individual may pay or deliver the money, property, or instrument […]
Section 700.5433 – Appointment of Conservator in Another State as Temporary Conservator.
700.5433 Appointment of conservator in another state as temporary conservator. Sec. 5433. (1) If a conservator has not been appointed in this state and a petition in a protective proceeding is not pending in this state, a conservator appointed, qualified, and serving in good standing in another state may be appointed immediately as temporary conservator […]
Section 700.5419 – Conservators; Title by Appointment.
700.5419 Conservators; title by appointment. Sec. 5419. (1) Appointment of a conservator vests in the conservator title as trustee to all of the protected individual’s property, or to the part of that property specified in the order, held at the time of or acquired after the order, including title to property held for the protected […]
Section 700.5420 – Recording of Conservator’s Letters.
700.5420 Recording of conservator’s letters. Sec. 5420. (1) Letters of conservatorship are evidence of transfer of all of the protected individual’s property, or the part of that property specified in the letters, to the conservator. An order terminating a conservatorship is evidence of transfer of the property subjected to the conservatorship from the conservator to […]
Section 700.5421 – Sale, Encumbrance, or Transaction Involving Conflict of Interest; Voidable; Presumption; Compliance With Michigan Prudent Investor Rule; Exceptions.
700.5421 Sale, encumbrance, or transaction involving conflict of interest; voidable; presumption; compliance with Michigan prudent investor rule; exceptions. Sec. 5421. (1) A sale, encumbrance, or other transaction involving the investment or management of estate property in which the conservator has a substantial beneficial interest or that is otherwise affected by a substantial conflict between the […]